Sounds like Obama will nominate Jack Lew as Treasury Secretary. Does anyone know his stance on the FTT?
Never going to happen while the R's hold the house. Plus it would be a very tough sell in the Senate. -Guru
You're probably right. I could easily see the R's losing the House in 2014. They're hanging on by a thread now. I would think that Dems in IL and NY would be against this and quite outspoken but you never know.
:You're probably right. " you could have added for now or used however I could easily see... it changes the tone. if it passes in europe the drums will bang very loudly in the states. governments are desperate for revenue and the appearance of fairness. it does not bode well for the small guy as the recent favorable mortgage settlements by the big banks shows. the big banks will be exempt from the ftt
Can someone quickly summarize the FTT situation in Europe? Which major countries are pushing for it? How close is it or has it been approved? Is the UK still opposed? Will it apply to only equities or bonds, futures, options and forex as well? I realize that all of this info is in the thread. I have been following the thread occasionally by glancing, but until the election, I simply didn't think that there was a high probability for the US to adopt it. Thanks in advance!
We'll see what the makeup of the Senate is in 2014. Also keeping an eye on what Harry Reid is going to do with the filibuster rules here when the Senate comes back to work after Obama's inauguration. Hoping that the incoming Treasury Secretary is against the ftt but not holding my breath. In Europe we're waiting on the QMV vote to see if the ftt is going to happen there under enhanced cooperation. Germany and France are still pushing hard for it and the UK and Sweden are very against it. -Guru
All of it is smoke and mirrors. FTT in Europe is done deal. Politicians just want to show that they "work" hard spending taxpayers money for travel and meetings and create public interest around themselves because it is good topic for uneducated electorate. Just forget EU FTT and focus on the US and other parts of the world that matters. Remember EU capital markets do not really matter because they are such small fraction of total global turnover.